King Edward Court, in Stuart St, might also be a suitable site for development of a mid-sized theatre in central Dunedin, city council candidate at the last election Lynnette Scott said.
The property is on the market and this has raised some fears various artistic and cultural groups might not be able to stay.
Ms Scott said she had been working with a group of tenants to lobby the council to buy it.
The former King Edward Technical College is used by more than 50 groups, including for ballet, music, photography, martial arts and a children’s art workshop.
"Even as a commercial investment, the numbers would stack up, but it is not about the commercial aspect — it is about ensuring a facility that is widely used by Dunedin’s arts and culture community is retained for that purpose," Ms Scott said in a Facebook post.
Ms Scott was on the Team Dunedin ticket for the council election, which was led by new Mayor Jules Radich, but she said the proposal was not a Team Dunedin idea.
An unsuccessful candidate in the election, Ms Scott campaigned against wasteful spending, but said such spending could be a good investment.
It was the sort of property the council should look at including in its portfolio, both for economic and community wellbeing reasons, she said.
The council would need to do its due diligence, such as evaluating seismic risk, before any purchase was agreed, she said.
Ms Scott noted a lack of progress in the council’s quest to set up a mid-sized theatre, for which $17 million has been set aside.
At least two spaces at King Edward Court could be considered for such development, she said.
